Tuesday, October 18, 2011

Top Glove sees revenue growing 20% next year

KUALA LUMPUR : TOP GLOVE CORPORATION BHD [], the world's largest rubber glove maker by market share, expects revenue to increase by 20% next year on the back of new capacity and growing demand, said its chairman Tan Sri Lim Wee Chai.

The company also saw the worst in the rubber glove making industry coming to an end on the back of the recent declining latex prices, strengthening of the US dollar and softening supply, he said on Tuesday, Oct 18.

"We expect our net profit margin coming up to between 8% and 10% for the next financial year," he told fund managers, analysts and reporters during a briefing, adding that this was underpinned by the better outlook of the rubber glove making industry going forward.

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